PNC Financial Services Group Inc. Sells 1,223 Shares of Flutter Entertainment plc (NYSE:FLUT)

PNC Financial Services Group Inc. trimmed its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 60.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797 shares of the company's stock after selling 1,223 shares during the period. PNC Financial Services Group Inc.'s holdings in Flutter Entertainment were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in shares of Flutter Entertainment during the fourth quarter worth approximately $239,306,000. Vestcor Inc bought a new position in Flutter Entertainment in the 3rd quarter valued at $815,000. DJE Kapital AG acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at $442,000. Sanctuary Advisors LLC bought a new position in Flutter Entertainment in the third quarter valued at about $802,000. Finally, Benson Investment Management Company Inc. acquired a new position in Flutter Entertainment during the 4th quarter valued at about $5,116,000.

Flutter Entertainment Stock Down 2.8 %

FLUT stock traded down $6.94 during midday trading on Tuesday, hitting $239.55. The company's stock had a trading volume of 1,071,290 shares, compared to its average volume of 1,471,835. The company's fifty day moving average price is $263.02 and its 200 day moving average price is $253.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The stock has a market capitalization of $42.51 billion and a P/E ratio of 1,088.77.

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Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

FLUT has been the subject of several analyst reports. UBS Group lifted their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Benchmark increased their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Needham & Company LLC raised their price target on Flutter Entertainment from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Barclays upped their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, BTIG Research set a $323.00 target price on Flutter Entertainment in a research note on Monday, February 3rd. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $311.41.

Flutter Entertainment Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.